I primarily handle the marketing and rates, as marketing and hotel management are part of my background.  

Also, avoid issues with city and S8 inspections.3) Marketing Impact - a purple bedroom doesn't need painting, but usually has to be done to attract a tenant.4) Miscellaneous - anything that doesn't meet one of the above criteria.By logically breaking these down for our owner clients, we help them make better decisions on "repairing to their budget" and avoid over-repairing or being a slumlord.Suggest you use this approach with your PMC to address the $22k bid.Lstly, how many bids did your PMC send you regarding the $2k pest treatments?

The more I look into lease option, the more of a specific, niche market it appears to be, especially with the nuances of the legal ramifications if done incorrectly.

It's great that some ST rentals have a 6-month waitlist but that's the case in many markets and these listings are in the minority and most likely run by experienced short-term operators.

Solid post and would agree with everything - but the last one - "Local or National Expert" - I do think there is still value here but I would say this is the one area that is being I'd argue reduced in importance via technology and ability to reach people digitally and remotely - but like you said, its really more important for people trying to scale - where if its your first or second, local probably makes a lot of sense

Spend your spare time reading, listening to podcasts, analyzing property, studying the markets, etc.2.

Both seem to have strong real estate markets, but I'm not sure which one would be better for a beginner like me.Can anyone share their experiences or insights on these markets?

@Quynh TranI would look for community banks and credit unions in the market where you're investing.

I did check out the Market Maker feature though, and I feel like it's somewhat OK.

Michigan City is one of my target markets.